UNITED STATES
Table A:  Gross External Debt Position: By Sector 1/ 2/ as of December 31, 2025
U.S. Dollars in Millions
General Government  10,364,740
Short-term 1,450,266
Currency and deposits 3/ 0
Debt securities 1,450,266
Loans 0
Trade credit and advances 0
Other debt liabilities 4/ 5/ 0
Long-term 8,914,474
Special drawing rights (allocations) 6/ 157,304
Currency and deposits 3/ 0
Debt securities 8,536,923
Loans 0
Trade credit and advances 220,247
Other debt liabilities 4/ 0
Central Bank 1,094,255
Short-term 1,094,255
Currency and deposits 3/ 1,094,255
Debt securities 0
Loans 0
Trade credit and advances 0
Other debt liabilities 4/ 5/ 0
Long-term 0
Special drawing rights (allocations) 6/ 0
Currency and deposits 3/ 0
Debt securities 0
Loans 0
Trade credit and advances 0
Other debt liabilities 4/ 0
Deposit-Taking Corporations, except the Central Bank 4,306,972
Short-term 3,127,509
Currency and deposits 3/ 1,844,207
Debt securities 152,040
Loans 1,131,262
Trade credit and advances 0
Other debt liabilities 4/ 5/ 0
Long-term 1,179,463
Currency and deposits 3/ 442,074
Debt securities 192,536
Loans 544,853
Trade credit and advances 0
Other debt liabilities 4/ 0
Other Sectors 11,783,449
Short-term 4,212,559
Currency and deposits 3/ 663,339
Debt securities 99,344
Loans 3,339,344
Trade credit and advances 110,532
Other debt liabilities 4/ 5/ 0
Long-term 7,570,890
Currency and deposits 3/ 820
Debt securities 7,046,162
Loans 518,878
Trade credit and advances 5,030
Other debt liabilities 4/ 0
Direct Investment: Intercompany Lending 1,898,817
Debt liabilities of direct investment enterprises to direct investors               959,082
Debt liabilities of direct investors to direct investment enterprises  939,735
Debt liabilities to fellow enterprises
Gross External Debt Position 29,448,233
     
Memorandum items
Arrears: By Sector 31,254
General Government 0
Central Bank 0
Deposit-Taking Corporations, except the Central Bank 164
Other Sectors 31,090
Direct investment: Intercompany Lending 0
Debt Securities: By Sector 2/  14,370,964
General Government 7,904,991
Central Bank 0
Deposit-Taking Corporations, except the Central Bank 200,782
Other Sectors 6,265,191
     
1/ Source: Department of the Treasury, March 31, 2026.  
2/ All debts are presented at face value. Exception: long-term debt securities in
the memorandum section are valued at market value, as recommended.
3/ It is recommended that all currency and deposits be included in the short-term category
unless detailed information is available to make the short-term/long-term attribution.
4/ Other debt liabilities comprise insurance, pension, and standardized guarantee schemes,
and other accounts payable. It is recommended that insurance, pension, and standardized
guaranteed schemes be classified as long term.  
5/ Arrears are recorded in the original debt instrument. Arrears are shown separately in
the memorandum items.  
6/ In line with BPM6, SDR allocations should be reported as long-term external debt liabilities.